Yoga Mat Market Scope:
Market Research Future (MRFR) believes that the yoga mat market can touch USD 11.78 billion by the year 2030. It is also likely that the global market can capture a CAGR of 5.40% between 2022 and 2030.
Yoga Mat Market Major Drivers and Challenges:
Yoga Mat Market is deemed as a highly effective way of maintaining the health of body and mind. A variety of yoga mats in different materials are available in the market and are emerging as essential accessories among the burgeoning pool of yoga practitioners worldwide. The alarming growth in obesity cases coupled with the rapidly mounting health consciousness among the mass add to the market strength. Rise in obesity is bringing along with itself several health disorders including hypertension, sudden cardiac arrest, diabetes, and hypotension. As a result, with the aim to lose weight, improve blood circulation and reduce stress, people are increasingly participating in yoga, which should further bolster the sales of yoga mats.
Escalating number of members in yoga studios as well as fitness clubs indulging in yoga and meditation has proved to be favourable as well. Moreover, manufacturers are progressively focusing on developing yoga mats that offer more comfort and convenience, while offering a wide range of materials to the consumers. This could be crucial for manufacturers in gaining the upper hand, in terms of competition while also inducing major market growth across the globe.
Online workout classes online, especially on popular social media sites like Facebook, Instagram and YouTube have raised the popularity of yoga among consumers. These platforms also offer consumers knowledge about the latest types of yoga mats available in the market. Plus, the surging prominence of e-commerce channels selling exercise-based accessories like yoga mats can be favourable for the global market in the years ahead.
Top Manufacturers:
The prominent of Yoga Mat in the global industry include Jiangxi Lveten Plastic Industry Co., Ltd. (China), Hefei Bodyup Sports Co., Ltd. (C hina), Hugger Mugger (US)-Tapas, Eco-Rich, OutdoorGearLab LLC (US)-Prana Revolution, Shrine Sports Distributors (India)-Stag, Jade Yoga (US), Liforme Ltd (UK), Mandala Yoga Mat (US), Aerolite (India), Shanghai Eversuccess Industries Co., Ltd (China), Earth Elements, Shenzhen Haifuxing Technology Co., Ltd. (China)-HFX, Elysian (Taiwan), Kolckmann GmbH (Germany)-Ako Yoga, Microcell Composite Company (Taiwan), Shanghai Fitnessourcing Inc. (China).
Majority of these companies are focused on either creating new products or subject the existing product portfolio to a series of innovations to improve the quality or add new features. Another significant marketing tactic employed by these firms includes expanding their distribution channels to bolster visibility among a higher number of consumers. Other than this, given the mounting concerns with respect to the degradation of the environment and the growing consumer awareness in this regard, players are introducing eco-friendly yoga mats in the market.
Yoga Mat Market Segmentation:
Type, end-users, and distribution channel are the key segments outlined in the report, in a bid to extensively detail the global market for yoga mats.
By Types of Commercial Yoga Mats available in the market are PVC, TPE, cotton, and rubber.
Major industry End-users are children and adults.
Distribution channels that sell yoga mats are store-based {Specialty Stores, Supermarkets Hypermarkets, Convenience Stores, and more} as well as non-store based.
Regional Study:
The Yoga Mat Size Store has been regionally considered for Asia Pacific/APAC, North America, Europe, and RoW/rest of the world.
With top-notch performance and significant revenue generation, Asia Pacific has secured the lead in the global market. The region will continue to garner highest traction throughout the conjectured period, given the expanding pool of yoga practitioners. Sales of yoga mats are booming in China, India, Australia, and Japan, in line with government as well as several fitness clubs putting efforts to encourage yoga. Renowned players such as Shenzhen Haifuxing Technology Co., Ltd., Shrine Sports Distributors, Shanghai Ever success Industries Co., Ltd and Aerolite are present in the region, and these companies are known for their wide variety of product offerings with application in different exercises.
North America has been gaining speed in the global market at a stunning pace, because of the surging burden of several lifestyle diseases that has fostered the importance of fitness and health among consumers. This, in turn has led to higher adoption of yoga and ultimately yoga mats. It expected that the US market for yoga should touch USD 12 billion by 2021, which indicates the bright prospects for yoga mats in the following years.
Recent Development:
In July 2020, Lululemon Athletica Inc. entered an authoritative consent to secure MIRROR (US), an in-home wellness organization, for a valuation of USD 500 million.
In January 2019, Columbia Sportswear Company (CSC) procured the leftover 40% premium in Columbia Sportswear Commercial (Shanghai) Company, its joint endeavor in China with Swire Resources Limited.
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